D. Carnegie & Co divests property to tenants – Sale price corresponds to 16 850 SEK/sq. m.

D. Carnegie & Co (publ) – listed on Nasdaq Stockholm – has signed an agreement to divest a residential property to a private housing cooperative. The sale of the property in Rinkeby is completed at an underlying property value of SEK 43 million, corresponding to SEK 16 850 per square meter living area. The underlying property value exceeds the latest market valuation by 88%.

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The property, built in 1970, consists of two residential buildings with a total of 22 apartments and 2 rental premises. Every apartment has either a balcony or a patio. The property, situated in a quiet location in Rinkeby, is adjacent to spacious green areas and holds a courtyard.

– We are pleased to complete the co-op conversion together with our current tenants. The transaction also highlights the significant latent values in our property portfolio, comments Ulf Nilsson, CEO of D. Carnegie & Co. 

The property is located on Sunnanbyplan 3-9 in Rinkeby, was built in 1970 and consists of 22 4 and 5 bedroom apartments. Living area amounts to 2 552 square meters.

About D. Carnegie & Co
D. Carnegie & Co is a real estate company focusing on residential properties in the Stockholm region. The Company’s business concept is to own and manage its real estate portfolio and to gradually refurbish apartments in connection with the natural turnover of tenants. This can take place quickly and cost-efficiently due to our Bosystem refurbishment method which, among other things, does not require tenants to vacate the premises. The Company also creates significant value through the development of building rights in the existing portfolios. As of 31 March 2016, the market value of the company's properties amounted to MSEK 13.873. As per 31 March 2016, the total rental value amounted to MSEK 1.262 annually. The financial leasing rate is high with no vacancies. D. Carnegie & Co is listed on Nasdaq Stockholm.

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Contacts

D. Carnegie & Co
Ulf Nilsson, +46 (0)8 – 121 317 25
CEO

Contacts

D. Carnegie & Co
Ulf Nilsson, +46 (0)8 – 121 317 25
CEO